MeetingsNet/An Analysis of the Economy’s Impact on Meetings and Incentives by Market Segment

Highlights
MeetingsNet magazines magazines conducted online surveys/polls of readers to gauge the effects of the economic downturn on their meetings and incentives.

Changes to meetings
Shortening length/days of meetings

CMI
• 52 percent shortening the number of days

FIM
• 28 percent reducing the length of meetings

AM
•6 percent will plan shorter meetings

RCM
•21 percent shortening the meeting


Taking larger or national meetings and making them into smaller or regional meetings

CMI
• 31 percent said they are taking larger meetings and making into smaller or regional meetings

AM
• 15 percent offering regional in place of national

MM
• 14 percent will offer some regional meetings instead of national meetings


Reducing number of attendees (corporate only)

CMI
•48 percent reducing number of attendees

FIM
•26 percent reducing the number of attendees


Site selection/changing destination based on airfares and costs

CMI/2009
• 65 percent said they would choose meeting destinations with lower airfare

CMI
• 58 percent said they would rethink incentive destinations due to airfare
• 65 percent said they would consider using less-expensive properties for meetings
• 50 percent said they would consider using less-expensive properties for incentives
• 20 percent said they would book during the shoulder or off-season

AM
• 34 percent change to more affordable destination

RCM
• 43 percent change to more affordable destination


Other changes to meetings

FIM/2009
• 38 percent eliminating nonessential meetings

RCM/2009
• 19.4 percent do not plan to make any changes to cut costs [Good News!]
• 58 percent are increasing efforts to attract attendees
• 30.6 percent are eliminating some small meetings

AM/2009
• 13 percent reported NO negative fallout [Good news!]
• 27 percent said they won’t cut costs [Good news!]
• 22 percent are eliminating smaller meetings
• 58 percent said economic factors will force them to cut some services and/or programs that they typically offer at the annual meeting

MM/2009
• 41 percent will eliminate some small meetings


Changes to incentive programs

CMI
• 25 percent said NO changes to budget for 2009 incentive programs [Good news!]

• Among those who said they are “canceling” an incentive program, 36 percent have re-organized the trip as an “educational conference,” which in essence means the trip is moving forward in a different form.
[Good news!]

CMI
• 41 percent of respondents said they will cut the number of on-site gifts
• 25 percent said they will cut the number of tours and activities for qualifiers
• 22 percent said they are sponsoring fewer tours/activities
• 20 percent said they will cut meals and functions


Moving meetings online

CMI
• 42 percent of those who are canceling or postponing meetings said they would replace them with virtual meetings or teleconferencing

RCM
• 31 percent said they will replace some live meetings with virtual meetings or conference calls

AM
• 38 percent said they are replacing some live meetings with virtual meetings

MM
• 54 percent said they will replace some live meetings with virtual meetings or conference calls


Attendance Trends (association markets)

AM
2008: 46 percent said attendance held steady at meetings that have taken place since September [good news]
49 percent said attendance was down 5 percent or more
5 percent actually saw some gains for their annual meetings this fall [good news]

2009
72 percent said they expect to see attendance slip at least 5 percent
55 percent said they will see sponsorship dollars shrink
40 percent said they will see exhibitor income shrink
13 percent reported no negative fallout [good news]
41 percent anticipate paying attrition penalties for 2009 meetings

MM
Medical Meetings survey of medical association planners
• 67 percent of respondents are concerned that the economy will significantly reduce attendance (more than 5 percent) at their 2009 annual meeting
• 92 percent are concerned that economic and/or regulatory forces will significantly reduce revenue from exhibits/sponsorships at their 2009 annual meeting
• 87 percent are concerned that economic and/or regulatory forces will significantly reduce revenues (by more than 5 percent) from their 2009 annual meeting
• 58 percent say economic factors will force them to cut some services and/or programs that they typically offer at the annual meeting

RCM
2009
• 24.7 percent anticipate no negative effects on 2009 meetings [good news]
• 13 percent believe attendance at their meetings will decrease by more than 10 percent
• 9 percent said they expect attendance to increase in 2009 [good news]
• 31.2 percent said they are reducing attendance as much as 5 percent
• 15.6 percent reported reducing attendance by 6 to 10 percent
• 13 percent said they are reducing attendance more than 10 percent

2008/fall meetings
• 7 percent said attendance was up
• 48 percent said attendance was the same
• 9 percent said attendance was down by 5 percent or less
• 7 percent said attendance was down by 6 to 10 percent
• 21 percent said attendance was down by more than 10 percent
• 18 percent said they anticipate facing attrition issues for our 2009 meeting(s)

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